Two main board IPOs worth Rs.1159 crore to open next week

Two main board initial public offerings (IPOs) ideaForge Technology IPO and Cyient DLM IPO are going to hit primary market next week. The upcoming IPO would worth Rs. 1159 crore as ideaForge IPO aims to raise Rs. 567 crore while Cyient DLM IPO aims to generate Rs. 592 crore from its initial offer.

Both upcoming IPOs proposes to list on BSE and NSE and shares of both companies are available for trade in grey market today.

According to market observers, shares of ideaForge Technology LTd is available in grey market today at a premium of Rs. 500 per share whereas Cyient DLM share price is available at a premium of Rs.110 per share premium in grey market today.

The public issue of ideaForge Technology Ltd is going to open on 26th June 2023 i.e. on Monday next week. The public issue will remain open for bidding till 29th June 2023 i.e. till Thursday.

The drone maker company has fixed ideaForge Technology IPO price at Rs. 638 to Rs. 672 per equity share.

According to market observers ideaForge IPO GMP (grey market premium) today is Rs. 500, which means grey market is expecting around 75 per cent listing gain from the public issue while the public issue is yet to open for bidding.

Drone maker company has already raised Rs. 255 crore from anchor investors. ideaForge Technology on Friday said that it has raised Rs.255 crore from anchor investors ahead of its initial share sale that opens for public subscription on Monday.